Jan 23, 2013 4:00am PST
banking blunders. rumors are swirling about a hot new tech couple. plus, how the obamas are causing a stir at j crew... again. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's wednesday, january 23rd. i'm angela miles. in today's first look: stocks at a 5-year high: the s&p 500 is inching toward 1,500. it rallied yesterday on strength from banking stocks. overall it was a green day on wall street for stocks and commodities. in earnings news after the close, google glory: not only were profits up at the search engine company, but ad sales are solid. for csx railroad, however, profits are chugging slower as the demand for coal is dropping. and british prime minister david cameron delivers his highly anticipated speech today on the uk's future in the european union. let's get a trader's take on earnings coming in from google and ibm after the close with larry shover of sfg alternatives. what do you think, larry? > > traders were surprised. with ibm, no one thought they would beat with revenue, and they did.
Jan 28, 2013 4:00am PST
became treasury secretary as president obama was sworn into office the first time. finance professor dale rosenthal says government- directed taxpayer bailouts helped stabilize the economy. "instead of a big drop, we saw a softer landing but a longer recovery." under secretary geithner, the treasury department participated in bank bailouts despite risky gambles that led to the subprime mortgage collapse. critics say that under giethner, there was no assurance that banks would use their money to lend to business and homeowners. "there was no reportability, no accountability, it was just, 'give me the money and i'll save us.'" "the one part of the stimulus that worked was the money to state and local governments that went to teachers, firefighters, city workers. if that hadn't happened, unemployment would've been significantly worse." there were more bailouts. geithner oversaw $182 billion to insurance and financial services giant aig, which gave millions in bonuses to top executives responsible for aig's financial mess from credit default swaps. the auto bailout of gm and chrysler - the ob
Jan 25, 2013 4:00am PST
president obama nominates a new wall street watchdog. in today's cover story, manufacturing gets its first big boost in years. the goverment addresses boeing's battery problems... but questions remain. plus, inside california's luxury housing boom. and are banks just plain greedy? a look at the latest money grab in traders unplugged. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's friday, january 25th. i'm angela miles. in today's first look: the dow climbs higher for the 5th straight session as apple takes down the nasdaq. the nasdaq fell 24 points. apple also played a role in holding down the s&p, which briefly crossed 1,500. apple shares tumbled $63 in trading yesterday. facebook founder mark zuckerberg is putting on a political face. he will host a fundraiser at his home february 13th for new jersey governor chris christie's re-election fund. and the post office is pushing up the price of a stamp by one penny to 46 cents starting sunday. scott shellady of trean group joins us this morning fo
Jan 22, 2013 4:00am PST
cuts tied to raising the debt limit. president obama is calling for a "clean" debt limit increase, because it pays for bills the u.s. has already racked up. meanwhile, house speaker john boehner says he wants the house and senate to pass a budget in the near term that includes severe cuts to social programs. without a budget, boehner says lawmakers should not receive pay checks. president obama wants a balanced budget. the senate is expected to approve aid for states devastated by superstorm sandy. senators will vote on a $50 billion dollar bill today. last week, congress said yes to the funding... but not without no votes. the majority of republican house members voted against the bill.. calling it too expensive and saying it should come with spending cuts. january 4th, congress agreed to $9.7 billion package to assist with flood insurance claims from the storm. japan airlines is canceling more flights this week due to technical problems aboard boeing's 787 dreamliner. last week jal cancelled round trip flights.. and will continue those cancellations through january 25th. air